<PAGE>
Filed Pursuant to Rule 424(b)(3)
Registration # 333-60959
PROSPECTUS SUPPLEMENT NO. 1
TO
PROSPECTUS DATED NOVEMBER 6, 1998
AMF BOWLING, INC.
$1,125,000,000
AGGREGATE PRINCIPAL AMOUNT OF
ZERO COUPON CONVERTIBLE DEBENTURES DUE 2018
AND
SHARES OF COMMON STOCK ISSUABLE UPON
CONVERSION, REDEMPTION OR REPURCHASE THEREOF
----------------
The following information supplements, and must be read in connection with,
the information contained in the Prospectus, dated November 6, 1998 (the
"Prospectus"), of AMF Bowling, Inc., a Delaware corporation. This Prospectus
Supplement must be delivered with a copy of the Prospectus. All capitalized
terms not otherwise defined herein have the respective meanings ascribed to
them in the Prospectus.
The following information replaces in its entirety the information provided
in the Prospectus under the caption "Selling Securityholders".
----------------
SELLING SECURITYHOLDERS
The Selling Securityholders may from time to time offer and sell pursuant to
this Prospectus (or an amendment or supplement thereto) any or all of the
Debentures and the Common Stock issued upon conversion, redemption or
repurchase thereof. The term Selling Securityholder includes the holders
listed below and the beneficial owners of the Debentures and their respective
transferees, pledgees, donees or their successors.
Each of the Selling Securityholders listed below is either an Initial
Purchaser or a transferee of an Initial Purchaser and has agreed to be bound
by the terms applicable to the transferor under the Debenture Registration
Rights Agreement. Pursuant to the Debenture Registration Rights Agreement, the
Company has filed the Registration Statement of which this Prospectus forms a
part and has also agreed to bear certain expenses related thereto and to
indemnify each Selling Securityholder against certain liabilities, including
certain liabilities arising under the federal securities laws. See "Plan of
Distribution".
The Company has filed with the Commission the Registration Statement of
which this Prospectus forms a part with respect to the sale by the Selling
Securityholders of the Securities from time to time through the facilities of
any national securities exchange or U.S. inter-dealer quotation system of a
registered national securities association on which the Securities may be
listed or quoted at the time of such sale, in the over-the-counter market, in
transactions otherwise than on such exchanges or systems or in the over-the-
counter market, or through the writing of options, in privately negotiated
transactions or otherwise, as more fully described under "Plan of
Distribution".
----------------
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS NOVEMBER 23, 1998.
<PAGE>
The table below sets forth information with respect to the Selling
Securityholders and the respective principal amounts of the Debentures and
Common Stock into which such Debentures are convertible beneficially owned by
each Selling Securityholder at or prior to November 20, 1998. Such information
has been obtained from the Selling Securityholders. To the Company's
knowledge, none of the Selling Securityholders has, or within the past three
years has had, any position, office or other material relationship with the
Company (or its predecessors) or any of its affiliates. Although the Selling
Securityholders may offer for sale from time to time all or a portion of the
Securities pursuant to this Prospectus (or an amendment or supplement
thereto), the table below assumes that all of the Securities will be offered
and sold by the Selling Securityholders. In addition, the Selling
Securityholders identified below may have sold, transferred or otherwise
disposed of all or a portion of their Securities since the date on which they
provided the Company with information regarding their Securities in
transactions exempt from the registration requirements of the Securities Act.
Information concerning Selling Securityholders may change from time to time
and, to the extent required, will be set forth in supplements or amendments to
this Prospectus. The Securities are being registered hereby to permit
secondary trading of the Securities without restriction under the Securities
Act. See "Plan of Distribution".
<TABLE>
<CAPTION>
BENEFICIAL OWNERSHIP AT
NOVEMBER 20, 1998(1) SHARES OF PRINCIPAL AMOUNT
------------------------------ COMMON STOCK AT MATURITY
PRINCIPAL AMOUNT COVERED BY OF DEBENTURES
AT MATURITY PERCENTAGE OF THIS COVERED BY THIS
SELLING SECURITYHOLDERS OF DEBENTURES DEBENTURES PROSPECTUS(2) PROSPECTUS
----------------------- ---------------- ------------- ------------- ----------------
<S> <C> <C> <C> <C>
American High-Income
Trust.................. $ 21,900,000 1.9 189,947 $ 21,900,000
American Investors Life
Insurance Company,
Inc.(3)................ 3,000,000 * 26,020 3,000,000
Arkansas Public
Employees Retirement
System(4).............. 3,000,000 * 26,020 3,000,000
Baker Nye Securities,
LP..................... 5,000,000 * 43,367 5,000,000
Baltimore Gas & Electric
Pension Plan(4)........ 5,200,000 * 45,101 5,200,000
Blue Cross Blue Shield
of Michigan Retirement
Income Plan(4)......... 800,000 * 6,938 800,000
Boston Edison NDT Non-
Qualified
Corporate(4)........... 375,000 * 3,252 375,000
Boston Edison NDT
Qualified(4)........... 5,965,000 * 51,736 5,965,000
Boston Edison VEBA(4)... 275,000 * 2,385 275,000
BT Equities Strategies
Fund of the BT Pyramid
Trust.................. 3,000,000 * 26,020 3,000,000
Caywood Capital Fund
L.P.................... 400,000 * 3,469 400,000
Central Pension Fund of
the IUOE and
Participating
Employers(4)........... 15,750,000 1.4 136,606 15,750,000
Century National
Insurance Company...... 2,730,000 * 23,678 2,730,000
Chapman University...... 50,000 * 433 50,000
Chrysler Insurance
Company--Total Return.. 120,000 * 1,040 120,000
City of New Bedford
Retirement System(4)... 500,000 * 4,336 500,000
City of Richmond
Retirement System(4)... 1,100,000 * 9,540 1,100,000
City of Worcester
Retirement System(4)... 2,050,000 * 17,780 2,050,000
Columbia/HCA............ 700,000 * 6,071 700,000
</TABLE>
S-2
<PAGE>
<TABLE>
<CAPTION>
BENEFICIAL OWNERSHIP AT
NOVEMBER 20, 1998(1) SHARES OF PRINCIPAL AMOUNT
------------------------------ COMMON STOCK AT MATURITY
PRINCIPAL AMOUNT COVERED BY OF DEBENTURES
AT MATURITY PERCENTAGE OF THIS COVERED BY THIS
SELLING SECURITYHOLDERS OF DEBENTURES DEBENTURES PROSPECTUS(2) PROSPECTUS
----------------------- ---------------- ------------- ------------- ----------------
<S> <C> <C> <C> <C>
Community Investment
Group Convertible
Bond(4)................ 50,000 * 433 50,000
Credit Research &
Trading, LLC........... 875,000 * 7,589 875,000
Credit Suisse First
Boston Corporation..... 5,000,000 * 43,367 5,000,000
Curtiss-Wright
Retirement Plan(4)..... 750,000 * 6,505 750,000
Dallas Police & Fire
Pension System(4)...... 9,000,000 * 78,060 9,000,000
Data General
Corporation(4)......... 1,825,000 * 15,828 1,825,000
De Moss Foundation...... 500,000 * 4,336 500,000
Delaware Public
Employees' Retirement
System(4).............. 7,500,000 * 65,050 7,500,000
Detroit Edison
Employees' Retirement
Trust(4)............... 5,750,000 * 49,872 5,750,000
Detroit Medical Center
Endowment/Depreciation
Fund(4)................ 3,000,000 * 26,020 3,000,000
Detroit Medical Center
Pension Plan(4)........ 3,550,000 * 30,790 3,550,000
Deutsche Bank A.G....... 123,750,000 11.0 1,073,333 123,750,000
Dow Corning Retirement
Plan(4)................ 4,550,000 * 39,463 4,550,000
Employees' Retirement
System of the City of
Milwaukee(4)........... 10,000,000 * 86,734 10,000,000
Employers Reinsurance
Corp.(3)............... 2,500,000 * 21,683 2,500,000
Enterprise Accumulation
Trust High Yield....... 1,550,000 * 13,443 1,550,000
Enterprise High Yield
Bond Fund.............. 1,950,000 * 16,913 1,950,000
Eos Partners, L.P. ..... 7,500,000 * 65,050 7,500,000
F. R. Bigelow Foundation
Convertible Bond(4).... 70,000 * 607 70,000
Fede Corporation........ 50,000 * 433 50,000
Fort Dearborn Life
Insurance Company...... 600,000 * 5,204 600,000
Franklin Investor
Securities Trust--
Franklin Convertible
Securities Fund........ 6,000,000 * 52,040 6,000,000
Franklin Strategic
Series--Franklin Small
Cap Growth Fund........ 12,900,000 1.1 111,886 12,900,000
Gencorp(4).............. 7,750,000 * 67,218 7,750,000
General Motors
Investment Management
Corp.(3)............... 15,000,000 1.3 130,101 15,000,000
General Motors MetLife
High Yield Pension(4).. 7,820,000 * 67,825 7,820,000
General Motors Pension
Fund--High Yield
Sector(4).............. 10,500,000 * 91,070 10,500,000
Golden Rule Insurance
High Yield............. 700,000 * 6,071 700,000
Guardian Life Insurance
Company of America..... 28,500,000 2.5 247,191 28,500,000
Guardian Master Pension
Trust.................. 1,500,000 * 13,010 1,500,000
Halliburton High
Yield(4)............... 1,350,000 * 11,709 1,350,000
</TABLE>
S-3
<PAGE>
<TABLE>
<CAPTION>
BENEFICIAL OWNERSHIP AT
NOVEMBER 20, 1998(1) SHARES OF PRINCIPAL AMOUNT
------------------------------ COMMON STOCK AT MATURITY
PRINCIPAL AMOUNT COVERED BY OF DEBENTURES
AT MATURITY PERCENTAGE OF THIS COVERED BY THIS
SELLING SECURITYHOLDERS OF DEBENTURES DEBENTURES PROSPECTUS(2) PROSPECTUS
----------------------- ---------------- ------------- ------------- ----------------
<S> <C> <C> <C> <C>
Hamilton Global
Investors Limited...... 20,000,000 1.7 173,468 20,000,000
HBK Cayman L.P. ........ 60,773,000 5.4 527,108 60,773,000
HBK Offshore Fund
Ltd. .................. 141,377,000 12.6 1,226,219 141,377,000
Health Services
Retirement Plan(4)..... 1,000,000 * 8,673 1,000,000
Houston Firemen's Relief
and Pension Fund
"B"(4)................. 2,750,000 * 23,851 2,750,000
Houston Municipal
Employees Pension
System(4).............. 7,300,000 * 63,315 7,300,000
IBM Pension Plan(4)..... 11,500,000 * 99,744 11,500,000
IL Annuity & Insurance.. 250,000 * 2,168 250,000
International Union
Operating Engineers
Local #4(4)............ 450,000 * 3,903 450,000
Ironworkers District
Council of New
England(4)............. 1,500,000 * 13,010 1,500,000
KA Management Ltd....... 19,005,000 1.7 164,837 19,005,000
KA Trading L.P.......... 8,145,000 * 70,644 8,145,000
Loomis Sayles Bond
Fund(4)................ 18,700,000 1.6 162,192 18,700,000
Loomis Sayles Fixed
Income Fund(4)......... 3,000,000 * 26,020 3,000,000
Loomis Sayles High Yield
Fixed Income Fund(4)... 3,275,000 * 28,405 3,275,000
Loomis Sayles High Yield
Fund(4)................ 1,250,000 * 10,841 1,250,000
Loomis Sayles
International Fund--
High Yield(4).......... 2,125,000 * 18,430 2,125,000
Loomis Sayles Managed
Bond Fund(4)........... 2,000,000 * 17,346 2,000,000
Loomis Sayles Worldwide
Fund--Domestic Fixed
Income Sector(4)....... 750,000 * 6,505 750,000
Lord Abbett Bond
Debenture Fund......... 25,000,000 2.2 216,835 25,000,000
LS International Fund
(Offshore Bond
Fund)(4)............... 2,500,000 * 21,683 2,500,000
Maine State Retirement
System(4).............. 3,475,000 * 30,140 3,475,000
Maxim Corporate Bond
Fund(4)................ 4,250,000 * 36,861 4,250,000
Merrill Lynch
International Ltd...... 5,000,000 * 43,367 5,000,000
MetLife Separate Account
235(4)................. 1,000,000 * 8,673 1,000,000
Metropolitan Life Loomis
Sayles High Yield Bond
Portfolio(4)........... 4,200,000 * 36,428 4,200,000
Milwaukee County
"B"(4)................. 11,200,000 * 97,142 11,200,000
Minneapolis Teachers
Retirement Fund(4)..... 1,950,000 * 16,913 1,950,000
Morgan Guaranty Trust
Company of New York as
Investment Manager and
Agent for a private
client(5).............. 6,000,000 * 52,040 6,000,000
</TABLE>
S-4
<PAGE>
<TABLE>
<CAPTION>
BENEFICIAL OWNERSHIP AT
NOVEMBER 20, 1998(1) SHARES OF PRINCIPAL AMOUNT
------------------------------ COMMON STOCK AT MATURITY
PRINCIPAL AMOUNT COVERED BY OF DEBENTURES
AT MATURITY PERCENTAGE OF THIS COVERED BY THIS
SELLING SECURITYHOLDERS OF DEBENTURES DEBENTURES PROSPECTUS(2) PROSPECTUS
----------------------- ---------------- ------------- ------------- ----------------
<S> <C> <C> <C> <C>
Morgan Guaranty Trust
Company of New York as
Trustee of the
Commingled Pension
Trust Fund (Multi-
Market Special
Investment Fund I) of
Morgan Guaranty Trust
Company of New
York(6)................ 16,000,000 1.4 138,774 16,000,000
Morgan Guaranty Trust
Company of New York as
Trustee of the
Commingled Pension
Trust Fund (Multi-
Market Special
Investment Fund II) of
Morgan Guaranty Trust
Company of New
York(7)................ 32,000,000 2.8 277,548 32,000,000
Morgan Guaranty Trust
Company of New York as
Trustee of the Multi-
Market Special
Investment Trust Fund
of Morgan Guaranty
Trust Company of New
York(8)................ 6,000,000 * 52,040 6,000,000
Motors Insurance
Corp.(3)............... 500,000 * 4,336 500,000
National Geographic
Society(4)............. 250,000 * 2,168 250,000
National Union Fire
Insurance Co. of
Pittsburgh............. 4,000,000 * 34,693 4,000,000
New York City Board of
Education Retirement
System(4).............. 1,000,000 * 8,673 1,000,000
New York City Employees'
Retirement System(4)... 6,750,000 * 58,545 6,750,000
New York City Fire
Department Pension
Fund(4)................ 3,750,000 * 32,525 3,750,000
New York City Police
Department Pension
Fund(4)................ 4,000,000 * 34,693 4,000,000
New York City Teachers
Retirement System(4)... 22,900,000 1.8 198,620 22,900,000
New York State Electric
& Gas Corp. Retirement
Benefit Plan(4)........ 3,000,000 * 26,020 3,000,000
New York State Nurses
Assn. Pension Plan &
Benefits Fund(4)....... 2,250,000 * 19,515 2,250,000
Nike, Inc. Profit
Sharing Plan(4)........ 300,000 * 2,602 300,000
Oppenheimer Millennuim
Funds plc for the
Oppenheimer Millennium
Income & Growth Fund... 200,000 * 1,734 200,000
Orange County Employees
Retirement System(4)... 1,500,000 * 13,010 1,500,000
Pacific Life Insurance
Company................ 2,000,000 * 17,346 2,000,000
Partner Reinsurance
Co.(4)................. 600,000 * 5,204 600,000
Partners Healthcare(4).. 1,250,000 * 10,841 1,250,000
Peter & Elizabeth Tower
Foundation(4).......... 1,050,000 * 9,107 1,050,000
Phoenix Convertible
Fund................... 3,300,000 * 28,622 3,300,000
Phoenix Home Life
Convertible Fund....... 1,500,000 * 13,010 1,500,000
PHS Pension(4).......... 2,250,000 * 19,515 2,250,000
</TABLE>
S-5
<PAGE>
<TABLE>
<CAPTION>
BENEFICIAL OWNERSHIP AT
NOVEMBER 20, 1998(1) SHARES OF PRINCIPAL AMOUNT
------------------------------ COMMON STOCK AT MATURITY
PRINCIPAL AMOUNT COVERED BY OF DEBENTURES
AT MATURITY PERCENTAGE OF THIS COVERED BY THIS
SELLING SECURITYHOLDERS OF DEBENTURES DEBENTURES PROSPECTUS(2) PROSPECTUS
----------------------- ---------------- ------------- ------------- ----------------
<S> <C> <C> <C> <C>
Presbyterian
Intercommunity
Hospital............... 150,000 * 1,301 150,000
Presbyterian
Intercommunity Hospital
Defined Benefit Plan... 50,000 * 433 50,000
Raytheon Master
Trust(4)............... 2,550,000 * 22,117 2,550,000
Regence Blue Cross/Blue
Shield of Idaho(3)..... 86,000 * 745 86,000
Regence Blue Cross/Blue
Shield of Oregon(3).... 141,000 * 1,222 141,000
Regence Blue Cross/Blue
Shield of Utah(3)...... 43,000 * 372 43,000
Regence Blue Cross/Blue
Shield of
Washington(3).......... 230,000 * 1,994 230,000
Rohm & Haas Company
Convertible Fund(4).... 240,000 * 2,081 240,000
Rose Hills Endowment
Care Fund.............. 250,000 * 2,168 250,000
SoundShore Holdings
Ltd. .................. 30,075,000 2.6 260,852 30,075,000
SoundShore Opportunity
Holding Fund Ltd....... 1,000,000 * 8,673 1,000,000
State of Connecticut
Fund "F"(4)............ 4,350,000 * 37,729 4,350,000
State of Oregon/SAIF
Corporation............ 20,000,000 1.7 173,468 20,000,000
State of Rhode Island
Employees Retirement
System(4).............. 11,995,000 * 104,037 11,995,000
Teachers Insurance and
Annuity Association of
America................ 12,000,000 1.0 104,080 12,000,000
Teamsters Affiliates
Pension Plan(4)........ 2,000,000 * 17,346 2,000,000
Teamsters Retirement &
Family Protection
Plan(4)................ 400,000 * 3,469 400,000
The Bond Fund of
America, Inc........... 23,100,000 2.0 200,355 23,100,000
The Income Fund of
America, Inc. ......... 90,000,000 8.0 780,606 90,000,000
The Salser Partnership
No. 1 + 3.............. 50,000 * 433 50,000
TPW Investments, Ltd.... 100,000 * 867 100,000
Tredegar Industries,
Inc.(4)................ 750,000 * 6,505 750,000
Tribeca Investments
L.L.C.................. 12,500,000 1.1 108,417 12,500,000
Trust FBO Wm. M. Keck
Jr. Fdn................ 50,000 * 433 50,000
UA General Officers
Retirement Plan(4)..... 275,000 * 2,385 275,000
UA Local Union Officers
& Employees
Pension(4)............. 2,455,000 * 21,293 2,455,000
UA Office Employees
Retirement Plan(4)..... 130,000 * 1,127 130,000
UFCW Tri-State Pension
Fund(4)................ 500,000 * 4,336 500,000
United Mine Workers of
America Health and
Retirement Fund(4)..... 5,000,000 * 43,367 5,000,000
USF Convertible Fund.... 700,000 * 6,071 700,000
Wilson East L.P. ....... 100,000 * 867 100,000
Wm. M. Keck Jr. Fdn..... 200,000 * 1,734 200,000
</TABLE>
S-6
<PAGE>
<TABLE>
<CAPTION>
BENEFICIAL OWNERSHIP AT
NOVEMBER 20, 1998(1) SHARES OF PRINCIPAL AMOUNT
------------------------------ COMMON STOCK AT MATURITY
PRINCIPAL AMOUNT COVERED BY OF DEBENTURES
AT MATURITY PERCENTAGE OF THIS COVERED BY THIS
SELLING SECURITYHOLDERS OF DEBENTURES DEBENTURES PROSPECTUS(2) PROSPECTUS
----------------------- ---------------- ------------- ------------- ----------------
<S> <C> <C> <C> <C>
World Bank "B"(4)....... 2,500,000 * 21,683 2,500,000
World Bank "RSBP"(4).... 3,650,000 * 31,657 3,650,000
Zazove Convertible Fund,
L.P.................... 7,350,000 * 63,749 7,350,000
Unnamed holders of
Securities or any
future transferees,
pledgees, donees or
successors of or from
such unnamed holders... 49,700,000 4.4 474,495 49,700,000
-------------- --- --------- --------------
Total................... $1,125,000,000 100% 9,757,575 $1,125,000,000
============== === ========= ==============
</TABLE>
- --------
* Less than one percent.
(1) The information contained in this table reflects "beneficial" ownership of
the Debentures within the meaning of Rule 13d-3 under the Exchange Act.
With respect to all holders listed in the table above, the Company has not
conducted any independent inquiry or investigation to ascertain such
information and has relied exclusively on written questionnaires furnished
to the Company by the Selling Securityholders on or prior to November 20,
1998 for the express purpose of including the information set forth
therein in this Prospectus.
(2) Includes shares of Common Stock issuable upon conversion of the Debentures
only. Represents the number of shares of Common Stock into which the
Debentures listed for such Selling Securityholder in this table are
convertible on an "as converted" basis using the conversion rate described
on the cover page of this Prospectus.
(3) Salomon Brothers Asset Management Inc. ("SBAM") acts as discretionary
investment adviser with respect to the noted accounts that hold the
Debentures. Accordingly, SBAM may be deemed to be the beneficial owner of
the Debentures.
(4) Loomis, Sayles & Company, L.P. acts as discretionary investment adviser
with respect to the noted accounts that hold the Debentures.
(5) The Selling Securityholder is the beneficial owner of $956,000 face value
of the Subsidiary Senior Subordinated Discount Notes.
(6) The Selling Securityholder is the beneficial owner of $4,692,000 face
value of the Subsidiary Senior Subordinated Discount Notes.
(7) The Selling Securityholder is the beneficial owner of $5,514,000 face
value of the Subsidiary Senior Subordinated Discount Notes.
(8) The Selling Securityholder is the beneficial owner of $878,000 face value
of the Subsidiary Senior Subordinated Discount Notes.
The Conversion Rate and, therefore, the number of shares of Common Stock
issuable upon conversion, redemption or repurchase of the Debentures is
subject to adjustment in certain events. Accordingly, the number of shares of
Common Stock issuable upon conversion, redemption or repurchase of the
Debentures may increase or decrease. In addition, the Selling Securityholders
identified above may have sold, transferred or otherwise disposed of all or a
portion of their Debentures since the date on which they provided the
information regarding their Debentures, in transactions exempt from the
registration requirements of the Securities Act.
Because the Selling Securityholders may, pursuant to this Prospectus (or an
amendment or supplement hereto), offer all or some portion of the Debentures
or Common Stock issuable upon conversion, redemption or repurchase of the
Debentures, no estimate can be given as to the amount of the Debentures or
shares of Common Stock that will be held by the Selling Securityholders upon
termination of any such sales.
S-7
<PAGE>
Generally, only Selling Securityholders identified in the foregoing table
who beneficially own the Debentures set forth opposite their respective names,
may sell such Debentures pursuant to the Registration Statement. The Company
may from time to time, in accordance with the Debenture Registration Rights
Agreement, include additional Selling Securityholders in supplements or
amendments to this Prospectus.
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS NOVEMBER 23, 1998.
